Why Recognize Social Media Success in Financial Services?

By Stephen Selby, assistant vice president, social media solutions, audit and regulator relations, LIMRA

As social media enters its second decade, (can you believe LinkedIn launched in 2003?) few have figured out the social technologies and approaches that will shape the financial services industry of the future. By inaugurating The Silver Bowl Award for Social Media Excellence we aim to recognize the visionary programs and people who are leading the way. Through their inspiration we can promote best practices and advance the use of social media for everyone in our industry.

All financial services companies in North America are eligible to submit nominations. We seek the best and brightest in social media strategy, creativity, innovation and results. Judges from the social media and financial services industries will look for overall successful social media use and devote attention to specific programs.

A LIMRA survey shows that 94 percent of financial services companies have sales force initiatives using social media and 92 percent have initiatives for consumers. Companies leading the way in social media understand that success has shifted from gathering audiences to building relationships with them. While audience growth can increase awareness, engagement drives successful sales. Companies not engaged risk missing out on opportunities at best, and becoming irrelevant to their markets at worst. Whether your company is on the leading edge or just beginning, the Silver Bowl Awards can help you identify what’s working in social media and how to benefit from it.

Why else should we have a social media awards program? It’s a great opportunity to learn from our peers and engage in a fun, constructive networking event. The competitive and entrepreneurial nature of financial services assures a worthy contest for the best social media programs. While award winners will receive a silver bowl and well-deserved bragging rights, our industry receives winning ideas and thought leadership. It all results in improved communication which leads to better products and services for our customers. Everyone wins.

Do your programs measure up to the best in social media? To submit your nomination, click the link below and complete your submission by Friday, June 28.

We hope to see you in Boston on August 22!